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Power Play: Time to tweak international investing strategy

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

It may be time to take another look at your investments overseas, especially with the dollar pulling back.

Robert Luna, CEO and CIO at SureVest Wealth Management, tells CNBC's "Power Lunch" on Monday, "now is the time to unwind currency hedging."

Since the beginning of the year, many investors were told to hedge the currency impact if they were planning to invest in Europe. This made sense when the dollar was soaring, almost reaching parity with the euro, but the greenback has been falling against the euro recently.

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Luna says when you hedge out the currency, you also miss out on some of the benefits of international diversification in a portfolio.

"I think investors should avoid having to get both the currency and the equity correct. As we've seen in the U.S., stocks can rise in conjunction with the currency," Luna said.

The dollar index is down more than one-percent over the past three months.